Office Condo
New
For Sale
$6,250,000
201 SE 2nd Ave, Gainesville, FL 32601
Six office units combine government-related, legal, healthcare staffing, and community-service tenants in a single investment offering.
Property Size27,772 SF
Price / SF$225.05
Days on Market2
Property Features for 201 SE 2nd Ave
General Information
Standard status
Active
Size
27,772 SF
Property subtype
Office Condo Portfolio for Sale
Occupancy
96%
Net Operating Income
$483,141
Site & Location
Neighborhood
Downtown
Additional Details
Cap Rate
7.73%
Tenant in Place
Yes
Amenities
structured parking
walkable urban amenities
Building Details
Building Size
27,772 SF
Year Built
2000
Tenancy
Multi
Listed By:
Rick Cain, CCIM, SIOR
(352) 281-9393
Source:
Lee-associates
Added: Oct 24
Last Checked: Oct 24 at 2:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rick Cain, CCIM, SIOR
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Investment Insights
Based on property information with market context.
The portfolio comprises six office condominium units totaling 27,772 SF, delivered as one investment. Built in 2000, the property is 96.4% occupied, with 1,000 SF currently available. Leased space has a weighted average lease term of approximately 6.3 years. Tenants include the Veterans Administration, U.S. Army Corps of Engineers, Early Learning Coalition of Alachua County, Maxim Healthcare Services, and Florida Probate Law Group, representing government-related, community-service, healthcare staffing, and legal uses.
The offices are part of Union Street Station, a mixed-use development in downtown Gainesville. Structured parking is available in the adjacent garage. Restaurants, cafés, hotels, entertainment, and downtown professional services are within walking distance. The property is also near the University of Florida and UF Health.
The offices are part of Union Street Station, a mixed-use development in downtown Gainesville. Structured parking is available in the adjacent garage. Restaurants, cafés, hotels, entertainment, and downtown professional services are within walking distance. The property is also near the University of Florida and UF Health.
Key Highlights
- Six office condominium units offered together, totaling 27,772 SF
- 96.4% occupancy with 1,000 SF currently available
- Approximately 6.3‑year weighted average lease term, measured by leased square footage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$346,428
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,928,560
$6.9M
Cap Rate 7%
$4,948,971
$4.9M
Cap Rate 9%
$3,849,200
$3.8M
Market Conditions
NOI Build-Up for 27,772 SF
Gross rent
$549.9K $19.80/SF
− Vacancy
−$88.0K −$3.17/SF
EGI
$461.9K $16.63/SF
− OpEx
−$115.5K −$4.16/SF
NOI
$346.4K $12.47/SF
Area
Gainesville, FL
Vacancy
16.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,928,560
Cap Rate 7%
$4,948,971
Cap Rate 9%
$3,849,200
Alternative Uses
Best Use
Office B
$4.95M
$4.33M – $5.77M
NOI $346,428 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.88M
$6.02M – $8.03M
NOI $481,500 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
96.4%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,171
Businesses Nearby
Explore this area
Business Placement
Demographics for 32601, FL
22,039
Population
11,204
Households
2
Avg Household Size
27
Median Age
62%
College-Educated
97%
High-School Grad
4.6 sq mi
ZIP Area
4,791
Density / Sq Mi
$30,878
Median Household Income
$18,954
Median Earnings
$1,092
Median Rent
$284,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Six office units combine government-related, legal, healthcare staffing, and community-service tenants in a single investment offering.
Where is this office unit located?
The property is located at 201 SE 2nd Ave Gainesville, FL.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: Six office condominium units offered together, totaling 27,772 SF; 96.4% occupancy with 1,000 SF currently available; Approximately 6.3‑year weighted average lease term, measured by leased square footage
